The PX-50 index gained a strong 2% on Friday to close at 581.3 points, its highest level in three years. Cesky Telecom, after announcing a considerable dividend proposal, shot up 6.4% to CZK 380 on a volume exceeding USD 24 mil. Trading in the stock was heavy as both domestic and international investors were active. Komercni banka traded in a CZK 2,050–2,060 band, with both large buyers and sellers present on the market. CEZ rose by 2.53%, and will begin trading ex-dividend today. The market finally seems to be bearing fruits for investors; we remain bullish on CEZ and Unipetrol. Cesky Telecom could see profit taking, as the stock now lacks a major catalyst. For today, Cesky Telecom will again be in the spotlight, with other titles likely to be quiet as many European bourses are closed for a public holiday. Volume in the SPAD system reached a year-to-date high of USD 45.40 mil. on Friday.
Milan procházka